WASHINGTON HOTEL CORPORATION, First Half Ordinary Profit Increases by 4%

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Thu Nov 14, 2024 3:30 pm JST Earnings

4691 WASHINGTON HOTEL CORPORATION 【J-GAAP】

Earnings Report

WASHINGTON HOTEL CORPORATION <4691> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.4% from the same period last year, reaching 641 million yen. The progress rate against the 1.25 billion yen full-year plan was 50.9%, it was below the five-year average of 77.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to expand by 91.3% from the same period last year, reaching 618 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 82.8% from the same period last year, reaching 404 million yen. The operating profit margin improved from 7.4% in the same period last year to 9.8%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	7,988	1,297	1,274	1,378	114.3	45.3	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	8,915	808	614	590	49.0	65.5	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	10,129	859	641	741	61.5	50.9	Nov 14, 2024	J-GAAP
YoY	+13.6%	+6.3%	+4.4%	+25.6%	+25.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	10,129	859	641	741	61.5	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	9,379	682	323	245	20.3	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,712	866	618	442	36.6	15	Nov 14, 2024	J-GAAP
YoY	+14.2%	+27.0%	+91.3%	+80.4%	+80.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,532	2,989	2,815	3,215	266.6	0	May 12, 2023	J-GAAP
Mar, 2024	18,294	1,490	937	835	69.3	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	20,841	1,725	1,259	1,183	98.0	15	May 14, 2024	J-GAAP
YoY	+13.9%	+15.8%	+34.4%	+41.7%	+41.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,471	330	221	210	17.4	7.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	5,079	628	521	513	42.6	12.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	4,300	54	-198	-268	-22.2	1.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,897	346	237	229	19.0	7.1	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	5,232	513	404	512	42.5	9.8	Nov 14, 2024	J-GAAP
YoY	+17.0%	+55.5%	+82.8%	+143.8%	+143.5%